The Changing Face of Retail

A recent study by Delloite revealed the interesting – but unsurprising fact – that over 60% of customers check out the merchandise before they set foot in a store. Add the 31% that are online while they are actually in your shop along with the 9% that are still ‘e-commercing’ even after they have visited your store – you now have a very educated group of customers.

These statistics prove that the once definitive line between physical shop fronts and online stores is now officially blurred and that two have become one. The days when retailers can separate themselves from their ‘online customers’ and ‘in-store customers’ are disappearing fast. The figures from the Delloite study are stating in black and white that you really only have the one customer you have to worry about and cater to. The tech-savvy shopper. If you had to draw a picture of your typical customer they would have a phone in their hand, handbag or pocket.

Whether your customer is in-store or online, whether they know your brand or just randomly roamed into your shop – here’s some things you should know:

They have researched everything.
They probably already know where else they can get the same product and if they can get it cheaper.
They understand your brand.
They probably know about the post you put up on Facebook last week.
They have checked how many reviews you’ve received.
They have checked out how many page likes and followers you have on social media.
They know about the sale on your website.
They have the power with the tap of their finger to tell all of their friends and family about the experience they’ve had in your store – good and bad.

More so than ever, the retail customer is definitely the one in charge and they know it. As a retail business owner, it’s your responsibility to understand and embrace how your customers shop and use it to your best advantage to gain repeat business and new business.

In this age of relentless competition with businesses popping up using innovative marketing strategies, you need to be on top of your game to succeed and the first step is understanding your customer. In order to do this, take notice of the next time you set out to purchase something and run through that list above and see how many points you tick off.

If you need some advice on how to engage new customers and improve your online presence, give us a call today.